China’s Better PMIs In December Offer Signs Of Growth Stabilization: BAML

December’s PMI readings in China have shown initial signs of favorable growth development in the real economy, such as in the property and auto sectors, aided by intensified policy easing in the past months, reports BAML. Hans Mikkelsen and team at BAML said in their Jan. 4 research note titled “New Year, August deja vu” that they expect the key market theme in 2016 to be financial system instability as a few destabilizing forces seem to be coming to a head. August memories of China’s stocks dragging down U.S. stocks revived Mikkelsen and colleagues point out that the big declines in…